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Nov 28, 2012
11/12
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he was the chief of immigration and customs at the u.s. embassy in tokyo. >> we want to be a welcoming country in the united states, but certainly, we don't want the yakuza coming to the united states. >> because they're criminals? >> they have extensive criminal histories here in japan. they are members of criminal organizations. for both of those reasons, they would be ineligible to enter the united states. >> how did he get around that? according to jake adelstein's reporting, which we confirmed, tadamasa goto made a deal with the fbi. he offered to become a rat and inform on his yakuza brothers. >> goto said, "here's the deal. i need to get in the united states to get my liver transplant, or i'm gonna die. i will give you the names of all our front companies in the united states." so in terms of not only criminal intelligence but sort of, you know, pure, i don't know, covert intelligence, goto represented a real find for the fbi. >> so the fbi made this deal? >> and they gave him a special visa to come into the united states. >> gettin
he was the chief of immigration and customs at the u.s. embassy in tokyo. >> we want to be a welcoming country in the united states, but certainly, we don't want the yakuza coming to the united states. >> because they're criminals? >> they have extensive criminal histories here in japan. they are members of criminal organizations. for both of those reasons, they would be ineligible to enter the united states. >> how did he get around that? according to jake adelstein's...
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Nov 26, 2012
11/12
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>> what canada's doing is continuing to feed the u.s. addition to fossil fuels. instead of being the kind of friend who says, "let's make a helpful intervention here," we're acting as the supplier of a drug fix to the u.s. while all the time saying, "just say no." but we keep selling it. >> but unless the chinese go back to bicycles and americans trash their suvs, there will be buyers for oil anywhere, no matter how it's found or mined. right now, canada has become the land of opportunity for oilmen. they'll tell you there's little else on the horizon. >> bob, if you take a tablet and put on it, "where is supply going to come from that we don't know about today?" and you put down all the optimistic points, that tablet will be basically blank. >> as blank as the landscape around fort mcmurray, where the world of oil exploration ends. you think the days of cheap oil are gone? >> they're gone. from what we knew as cheap oil, when i pump gasoline in ray smith's sinclair station on hinkley street in holdenville, oklahoma, 11¢ a gallon, that's gone. >> $1.50 a gallon?
>> what canada's doing is continuing to feed the u.s. addition to fossil fuels. instead of being the kind of friend who says, "let's make a helpful intervention here," we're acting as the supplier of a drug fix to the u.s. while all the time saying, "just say no." but we keep selling it. >> but unless the chinese go back to bicycles and americans trash their suvs, there will be buyers for oil anywhere, no matter how it's found or mined. right now, canada has...
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Nov 21, 2012
11/12
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but it seemed neither the u.s. nor its allies had much of an appetite for pursuing the matter. >> people have died. moneys have gone missing. culprits are running around the world, hiding and scurrying around. i have to ask myself why has this happened? it is not every day that you get billion dollar scandals of this kind. when ali allawi, a harvard educated international banker took over as iraq's minister of finance in 2005, he was confronted with a gaping hole in the treasury. $1.2 billion had been withdrawn by the new ministry of defense to supply the iraqi army with desperately needed equipment to fight the growing insurgency. millions had been misspent on old and antiquated equipment, and allawi says most of the money simply disappeared. how much do you think was stolen? >> i think the figure is probably between $750 million, $800 million >> that's a lot of money. >> it is a huge amount of money by any standard, by--even by your standards. it's one of the biggest thefts in history, i think. >> gone. >> gone,
but it seemed neither the u.s. nor its allies had much of an appetite for pursuing the matter. >> people have died. moneys have gone missing. culprits are running around the world, hiding and scurrying around. i have to ask myself why has this happened? it is not every day that you get billion dollar scandals of this kind. when ali allawi, a harvard educated international banker took over as iraq's minister of finance in 2005, he was confronted with a gaping hole in the treasury. $1.2...
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97
Nov 22, 2012
11/12
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if you believe u.s. experts, that's much too close. >> [speaking japanese] >> igarashi told us he feels that way too. the japanese are, for the moment, balancing between the disaster that has happened and the disaster that awaits. the prime minister told his people they will rebuild japan. but all along the northern coast and in the town of pine tree island, there is a powerful sense that for now, time has stopped. >> eight months after the disaster, thousands were living in temporary housing, and there were few signs of rebuilding. the local town leaders in charge of the reconstruction were moving slowly because they were uncertain of the extent and speed of government aid. they were also seeking better ways to protect their communities from future tsunamis. as for the power plant, in february 2012, it was leaking radioactive water less than two months after the japanese prime minister declared it stable. meanwhile, japan was still struggling to protect its food supply from radioactive contamination. th
if you believe u.s. experts, that's much too close. >> [speaking japanese] >> igarashi told us he feels that way too. the japanese are, for the moment, balancing between the disaster that has happened and the disaster that awaits. the prime minister told his people they will rebuild japan. but all along the northern coast and in the town of pine tree island, there is a powerful sense that for now, time has stopped. >> eight months after the disaster, thousands were living in...
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Nov 12, 2012
11/12
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together we'll go far. >> the fed issues u.s. currency. that's why it says, "federal reserve note," on all the bills in your wallet. this is the bureau of engraving and printing just a few blocks from bernanke's office. the fed's mandate from congress is to put enough money in the system for maximum employment but not so much that it sets off inflation. the fed actually pays for itself and returns billions in profits to the treasury. in a sense, bernanke has been preparing for this emergency his whole professional life. he got a phd in economics from m.i.t., he chaired the economics department at princeton, and his specialty is the great depression. he's among many economists who now believe that it was the federal reserve itself that helped turn a recession in 1929 into a global calamity. >> they made two mistakes, basically. one was, they let the money supply contract very sharply. prices fell, deflation. so monetary policy was, in fact, very contractionary, very tight during that period. and then the second mistake they made was, they l
together we'll go far. >> the fed issues u.s. currency. that's why it says, "federal reserve note," on all the bills in your wallet. this is the bureau of engraving and printing just a few blocks from bernanke's office. the fed's mandate from congress is to put enough money in the system for maximum employment but not so much that it sets off inflation. the fed actually pays for itself and returns billions in profits to the treasury. in a sense, bernanke has been preparing for...
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95
Nov 22, 2012
11/12
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when the u.s. oil companies came here in the '40s and '50s, the americans moved into the area with their families and developed it to suit their tastes and their way of life. they created a replica of american suburbia. today you could be in the outskirts of houston or los angeles. it's almost like it's an enclave within saudi arabia. it's--different from the rest of the country. >> yes, that's true, because-- >> very different. it kept a lot of the american ways. >> yes, of course. >> but blocked off from the rest. >> they are good ways. there's nothing wrong with it. these were their excellent ways. >> welcome to 60 minutes on cnbc. i'm morley safer. in this edition, we follow the flow of big oil from massive, mega billion dollar oil fields in saudi arabia to the u.s. where wall street refines the oil into a mega billion dollar commodity. we begin with a look back to 2008 when the price of oil, theoretically tied to supply and demand, suddenly became untethered. storage tanks were full, yet the p
when the u.s. oil companies came here in the '40s and '50s, the americans moved into the area with their families and developed it to suit their tastes and their way of life. they created a replica of american suburbia. today you could be in the outskirts of houston or los angeles. it's almost like it's an enclave within saudi arabia. it's--different from the rest of the country. >> yes, that's true, because-- >> very different. it kept a lot of the american ways. >> yes, of...
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Nov 14, 2012
11/12
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chris pendley says he forged 4,000 bogus mortgage documents a day for major u.s. banks. and your previous experience in banking? >> none. [ticking] >> it started out as a mortgage crisis. then it slowly evolved into a credit crisis. now it's something entirely different and much more serious. >> this is a full-blown financial storm and one that comes around perhaps one every 50 or 100 years. this is the real thing. >> and much of what went wrong on wall street could be traced back to something called "credit default swaps." they were traded in a risky shadow market, and they were at the heart of the financial meltdown. [ticking] >> it has tentacles as wide as anything i've seen. i think, next to housing, this is the single most important issue in the united states and certainly the largest threat to the u.s. economy. >> meredith whitney was talking back in 2010 about a then- looming financial crisis involving state and local governments across the country. it was a debt crisis which some people believe could derail the recovery and require another big bailout package tha
chris pendley says he forged 4,000 bogus mortgage documents a day for major u.s. banks. and your previous experience in banking? >> none. [ticking] >> it started out as a mortgage crisis. then it slowly evolved into a credit crisis. now it's something entirely different and much more serious. >> this is a full-blown financial storm and one that comes around perhaps one every 50 or 100 years. this is the real thing. >> and much of what went wrong on wall street could be...
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98
Nov 5, 2012
11/12
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in november 2001, two years after judge jackson's monopoly ruling, the u.s. department of justice and microsoft reached an agreement to settle the case. as for bill gates, the man at the forefront of the personal computer revolution, he is now a full-time philanthropist. he stepped down as microsoft ceo in january 2000 and gradually reduced his full-time role with the company. in june 2008, he relinquished his last full-time position with microsoft, turning his attention to the bill and melinda gates foundation, the world's largest philanthropic organization, which he cochairs with his wife. the couple now has three children. their second daughter, phoebe, was born in 2002. gates remains involved with microsoft as its nonexecutive chairman and largest shareholder. well, that's this edition of 60 minutes on cnbc. i'm lesley stahl. thank you for joining us. captioning by captionmax www.captionmax.com [ male announcer ] the 2013 smart comes with 8 airbags, a crash management system and the world's only tridion safety cell which can withstand over three and a hal
in november 2001, two years after judge jackson's monopoly ruling, the u.s. department of justice and microsoft reached an agreement to settle the case. as for bill gates, the man at the forefront of the personal computer revolution, he is now a full-time philanthropist. he stepped down as microsoft ceo in january 2000 and gradually reduced his full-time role with the company. in june 2008, he relinquished his last full-time position with microsoft, turning his attention to the bill and melinda...